The International Finance Corporation (IFC) has invested approximately $45 million in CleanMax Energy (Thailand) Company Limited, a subsidiary of Clean Max Enviro Energy Solutions Private Limited. The investment will support the development of 35 MWp of greenfield solar capacity, refinance 41 MWp of existing operating solar projects, and boost the country’s commercial and industrial (C&I) solar segment.
This marks IFC’s first debt investment in a renewable energy developer in Thailand focused solely on the C&I sector. Furthermore, IFC estimates that the market for C&I solar in Thailand could potentially triple over the next decade.
CleanMax is an Indian renewable energy company, operating in the C&I sector. The company has 2.2 GW of operating, owned and managed capacity of renewable assets spread across India, Middle East, and South-East Asia as of March 2025.
In April 2025, IFC signed a development support agreement with Alcazar Energy Partners to co-develop the Štip wind farm in North Macedonia, providing funding for the Phase I of the 400 MW project.
